Don’t Buy that Publix Cake: Why Supporting Local Will Help Your Personal Finances

Opting for big box-store options may offer instant monetary savings, but the long-haul results of passing over local businesses in an attempt to save money is financially detrimental.

As weddings get more and more expensive, it's easy to turn to that more-affordable major chain to help save a penny. You may opt for a Publix cake, florals from Sams or Costco and decor from Amazon. Yet, behind the the price cuts of mass production and convenience of online shopping lies a vibrant network of neighborhood shops, family-owned restaurants, and artisanal producers that form the backbone of our communities. And passing up that backbone is in fact deeply behind the increase in costs everywhere… including the wedding industry.

Choosing to patronize local establishments can profoundly enrich all of our personal lives. But it does take a village!

Supporting Job Creation

Studies have shown that for every dollar spent at a local business, a larger portion of that money stays within the community compared to purchases made at national chains. This localized circulation of funds creates a multiplier effect, stimulating economic growth and creating job opportunities for residents. By contributing to the success of local enterprises, you're indirectly supporting employment and income generation, which can have a positive ripple effect on your community's prosperity.

Tax Revenue Retention

Another financial benefit of supporting local businesses is the retention of tax revenue within your community. Unlike multinational corporations that often exploit tax loopholes and offshore accounts to minimize their tax liabilities, local businesses typically contribute a larger share of their earnings to local government coffers. This revenue is crucial for funding essential public services such as schools, infrastructure, and emergency services, ultimately benefiting all residents. By choosing to buy from local establishments, you're helping to sustain the financial health of your community and ensure that vital services are adequately funded without relying solely on taxes.

If a business owner has a decrease in purchases from the wedding community, he or she may need to raise prices to maintain the business which will ultimately cause an increase in prices across the board within the wedding community which is, primarily, run by small business owners. Promoting the concept of supporting local - getting that concept to trend overall - could help to reduce costs to brides and grooms across the board.